Nanjing Huadong Electronics Information & Technology Co. Ltd (000727.SZ) plans to raise up to 10.5 billion yuan (US$1.73 billion) in a private placement, China Securities Journal reported Wednesday. The shares will be placed to 10 companies. Proceeds will be used to build a new assembly plant for TFT-LCD flat panels in which the company will invest 29.15 billion yuan, the report said. Nanjing Huadong is controlled by China Electronics Technology Group Corp., the country’s largest state-owned IT group.
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